After the fall in interest on credit cards, the banks began to lower mortgage rates: this is the first

Davivienda joined the interest rate cut in the banking sector, which announced the reduction of interest rates for customers who already have a home loan approved, but who have not received the disbursement of resources. That is to say, it would apply to people who have not yet finalized the purchase of a house.

As indicated by the bank, the benefit of lower interest rates will be 14% annual cash flow and will be aimed at people wishing to acquire housing of social interest or housing of priority interest. It will be valid until June 20, 2023 and it will work as follows:

New VIS (fixed) of 14.0% EA

New VIS (variable) 5.5% + UV

In addition, he stressed that the benefit of the interest rate will only apply to credits whose disbursement is made from the announcement of the measure, that is to say from March to June 30, 2023. However, he assured that there could be an exception, because depending on the entity, the benefit can be applied to the final rate if there is coverage granted by the national government and depending on its availability.

Finally, he added that: “posting rates will remain in effect for approvals of new credits and for disbursements made on dates other than those mentioned in this communication”.

Bancolombia announced its decision to cut interest rates credit cardor who have quotas of up to $3.9 million. The information was shared during the first days of March 2023, after the increase in the cost of living began to worry Colombians.

According to the entity, the fall in the annual effective interest rate would be 46% to 25% applies to Visa Clásica, Mastercard Clásica, Mastercard Joven and Mastercard Ideal and American Express Blue credit cards. In this way, the advantage would cover 1.3 million cards, which represents 50% of the total number of credit cards that Bancolombia has in operation.

The measure will start working for customers who make purchases from the March 10, 2023. As mentioned by the bank, the measure will be implemented in order to meet the financial well-being needs of its customers.

After Bancolombia announced the reduction in the interest rate on credit cards in force, the President of Colombia celebrated the decision and also issued a new call for more Banking entities take the decision to implement this type of measure.

on your account Twitter express:

“It seems very good to me that Bancolombia is lowering its interest rate substantially. We are not going to allow ourselves to stagnate financially. It is time to move on”.

It should be remembered that in previous days Gustavo Petro had made a call in which he asked private banking entities to start reducing the brokerage fees. According to the President, this measure would serve to reduce interest rates and could thus stimulate the process of access to credit.

In addition, the measure also responds to the increase in the rates of Bank of the Republicwho reach the 12.75%, before a usury of 45.27%, actions which reduced interest in the use of bank cards.

Faced with this, it has been learned that other entities, such as Grupo Aval and BBVA, will also consider taking similar measures. It is expected that, if these types of decisions are confirmed, they will be announced in the coming weeks.